Pacific Energy Resources Ltd.
TSX VENTURE : PFE

Pacific Energy Resources Ltd.

September 01, 2005 11:53 ET

Pacific Energy Earns $470,668 US in Second Quarter

LONG BEACH, CALIFORNIA--(CCNMatthews - Sept. 1, 2005) - Pacific Energy Resources Ltd. (TSX VENTURE:PFE) is pleased to announce it has filed its financial statements for the 2nd Quarter ended June 30, 2005.



Highlights for the quarter are as follows:

Revenue $1,964,367 US
Production Expenses $ 817,508 US
Net Income $ 470,668 US


Revenue has increased 443% from the previous year's quarter, this due to the March acquisition of the remaining 75% interest in operations located in Southern California from Petrocal Incorporated. Net income was up as well, increasing 941% from $45,199 US to $470,668 US.

The Company had a temporary increase in overhead expenses in 2005, as a result of the added legal and accounting costs associated with the acquisition by the Company of the remaining 75% of the California Joint Venture. These expenditures are not expected to continue after the first half of 2005, while production revenue should increase as redevelopment plans progress and crude oil prices remain at historical highs.

About Pacific Energy Resources Ltd.

Pacific Energy Resources, LTD is headquartered in Long Beach, California, and is engaged in the acquisition and development of oil and gas properties, primarily in the United States. Pacific Energy currently owns and operates three oil fields in Southern California in the Los Angeles Basin. Additional information relating to Pacific Energy may be found on SEDAR at www.sedar.com.

ON BEHALF OF THE BOARD OF DIRECTORS OF PACIFIC ENERGY RESOURCES LTD.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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